The equity sections for Zephyr Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$6 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$6 par value, 120,000 shares authorized, 55, 520 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($48,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $1.80 per share cash dividend, payable on January 10.1 March 20 Purchased treasury stock for cash. April 5 Declared a $1.80 per share cash dividend, payable on April 10. July 5 Declared a $1.80 per share cash dividend, payable on July 10. July 31 Declared a 12% stock dividend when the stock's market value was $14 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $1.80 per share cash dividend, date of record October 10. $ 300,000 45,000 250,000 $ 595,000 $333,120 89,160 450,000 872,280 (48,000) $ 824,280 Journal entry worksheet < 1 2 3 4 5 6 7 8 12 ..... > Declared a $1.80 per share cash dividend, payable on January 10. Note: Enter debits before credits. Date January 05 Account Title Debit Credit Record entry Clear entry View general journal oints Print General Ledger Account January 01 Cash Common stock No. Date January 01 Debit Credit Balance No. 1,220,616 Date January 01 Debit Credit Balance 300,000 Paid-in capital, Common Retained earnings No. Date: Debit January 011 Income summary No. Date Debit Credit Balance January 01 (625,616) Credit Balance No. 45,000 Date January 01 Debit Credit Balance 250,000 777 Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend Cash Common stock Paid-in capital, Common Retained earnings Income summary Total Account Title: Zephyr Group Trial Balance January 01, 2021 4 Debit Credit $ 1,220,616 300,000 45,000 250,000 625,616 1,220,616 S 1,220,616 Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend Calculate the dollar amount of each cash dividend. Dates: January 01 to: January 01 April 05 July 05 October 05 Calculation of Cash Dividends January 05 How many common shares are outstanding? Dividend per share Total cash dividend Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend Calculate the amount of retained earnings to be capitalized as a result of the stock dividend. Capitalization of retained earnings due to stock dividend: Number of shares outstanding on July 30 Percentage of stock dividend Number of shares to be issued Amount to be capitalized per share Total amount to be capitalized Dates: January 01 to: January 01 < Cash Dividends Stock Dividend >